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The Returns and Implications of Human Capital Investment in a Transition Economy: An Empirical Analysis for Russia 1994-1998

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  • Andrew Clark

Abstract

This paper uses the Russian Longitudinal Monitoring Survey (RLMS), a household-based survey designed to measure systematically the reforms in Russia, for the years 1994-98. It utilises standard Mincer analysis to assess the returns to education as well as to specific levels of post-compulsory education and training. Results suggest, in the case of Russia, significant and positive returns to education and training that are comparable in magnitude to other transition countries

Suggested Citation

  • Andrew Clark, 2000. "The Returns and Implications of Human Capital Investment in a Transition Economy: An Empirical Analysis for Russia 1994-1998," CERT Discussion Papers 0002, Centre for Economic Reform and Transformation, Heriot Watt University.
  • Handle: RePEc:hwe:certdp:0002
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    File URL: http://www2.hw.ac.uk/sml/downloads/cert/wpa/2000/dp0002.pdf
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    References listed on IDEAS

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    1. Nesterova Daria & Sabirianova Klara, 1998. "Investment in Human Capital under Economic Transformation in Russia," EERC Working Paper Series 99-04e, EERC Research Network, Russia and CIS.
    2. Psacharopoulos, George & Velez, Eduardo & Patrinos, Harry Anthony, 1994. "Education and earnings in Paraguay," Economics of Education Review, Elsevier, vol. 13(4), pages 321-327.
    3. Moock, Peter R. & Patrinos, Harry Anthony & Venkataraman, Meera, 2003. "Education and earnings in a transition economy: the case of Vietnam," Economics of Education Review, Elsevier, vol. 22(5), pages 503-510, October.
    4. Heckman, James, 2013. "Sample selection bias as a specification error," Applied Econometrics, Publishing House "SINERGIA PRESS", vol. 31(3), pages 129-137.
    5. Griliches, Zvi, 1977. "Estimating the Returns to Schooling: Some Econometric Problems," Econometrica, Econometric Society, vol. 45(1), pages 1-22, January.
    6. Jan Rutkowski, 1996. "High skills pay off: the changing wage structure during economic transition in Poland," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 4(1), pages 89-112, May.
    7. Stepan Jurajda & Randall K. Filer & Jan Planovsky, 2001. "Returns to the Market: Valuing Human Capital in the Post- Transition Czech and Slovak Republics," Development and Comp Systems 0012012, EconWPA.
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    Cited by:

    1. Hoffman, Saul D. & Bićanić, Ivo & Vukoja, Oriana, 2012. "Wage inequality and the labor market impact of economic transformation: Croatia, 1970–2008," Economic Systems, Elsevier, vol. 36(2), pages 206-217.

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